The Jurik Keltner Channel is a popular and useful forex indicator designed for the MT4 platform. This free indicator helps traders to identify potential trade opportunities by displaying dynamic price channels on the chart. The indicator utilizes a combination of exponential moving averages and ATR (Average True Range) to calculate the upper and lower bands of the channel. When the price breaks above the upper band, it may indicate a buying opportunity, while a break below the lower band could signal a selling opportunity. Traders can use the Jurik Keltner Channel to set stop-loss and take-profit levels, as well as to determine the strength of a trend. Its simplicity and effectiveness make it a valuable tool for both beginner and experienced forex traders.
MT4
Jurik Keltner Channel
Jurik Keltner Channel is a popular and useful forex indicator for MT4. This free indicator utilizes two moving averages to create a channel around price movements, helping traders identify trend strength and potential reversal points. Traders can use this indicator to spot entry and exit points, as well as setting stop loss and take profit levels.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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